Download Income Tax Calculator for FY 2014-15 [AY 2015-16]

In keeping with trend of publishing the Income Tax Calculator every year, here is the Income Tax Calculator for FY 2014-15 [AY 2015-16].

Changes in Budget 2014:

We have incorporated the 3 changes that happened in Budget 2014 (presented on July 10, 2014)

These are:

Income up to Rs 2.5 lakhs for General Public and up to Rs. 3 lakhs for Senior citizens are now exempted from paying Income tax. Earlier this limit was Rs 2 Lakhs for General Public and rs 2.5 Lakhs for Senior Citizens.

The exemption limit for investments under section 80C has been raised from Rs 1 Lakh to Rs 1.5 Lakhs.

The exemption on paying interest on Home Loan has been raised from Rs 1.5 Lakhs to Rs 2 Lakh.

Download Income Tax Calculator

You can download the Income Tax Calculator for FY 2014-15 [AY 2015-16] from the link below. You might need to unlock this by any of the options below:

We take joint homelone with my mother in low .we[husband -WIFE]bought a plot my mother in low name [I take P.L .in my sellary when plot bought] my hubby only son my mother in low .total EMI of home lone given by my sallery account.how can i take rebbit in income tax .property not my name .

Thanks for using the calculator. U/s 80D You can claim maximum deduction of Rs 15,000 in case everyone insured is below 60 years of age and Rs 20,000 if any one of the member is above 60 years of age on medical insurance.

I have just tried your income tax calculator for FY 2014/15, and I am getting a taxable income of Rs.2,74,575/- but tax payable is showing only Rs.471/- . Now that the tax slab is 2.50 lakhs how do you justify this tax of Rs.471/- ?

dear Mr.Amit I am impressed by your I.TAX calculator, it is very simple with almost all items. However, I would like to know if you can provide me a calculator covering the retirement entries in the worksheet like PF, Gratuity, Leave encashment, 1/3 commuted pension which are exempt u/s 10 etc. it would be of great help to me as I am retired in Jun’14 with all retiral benefits. thanks GR Babu

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